Qualcomm says that the $121 billion "materially undervalues" its worth, and this is essentially the same response the company gave when it rejected Broadcom's first offer. However, while this is good news for the time being, there's still the potential that Qualcomm will eventually sell.

It's reported that Qualcomm is willing to meet with Broadcom to try and get a price that it deems itself to be worthy of, so if Broadcom continues to offer more cash, we may be looking at a buyout.